SpiceJet flies high on the bourses

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Spicejet is currently trading at Rs. 153.10, up by 7.15 points or 4.90% from its previous closing of Rs. 145.95 on the BSE.

The scrip opened at Rs. 150.00 and has touched a high and low of Rs. 156.90 and Rs. 148.00 respectively. So far 4339122 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 156.90 on 03-June-2019 and a 52 week low of Rs. 60.60 on 04-Oct-2018.

Last one week high and low of the scrip stood at Rs. 156.90 and Rs. 137.65 respectively. The current market cap of the company is Rs. 9184.69 crore.

The promoters holding in the company stood at 60.00%, while Institutions and Non-Institutions held 12.01% and 27.99% respectively.

SpiceJet will start flights on the Guwahati-Dhaka-Guwahati route from July 1, 2019 onward under the central government scheme UDAN International. The July 1 flight from Guwahati to the Bangladesh capital would be the first to fly under the UDAN International scheme, which seeks to enhance air connectivity between Indian states and selected international destinations with the help of government subsidies.

In addition, the airline also announced that it is launching 14 direct flights connecting metro and non-metro cities on its domestic network from June 20 onward. The airline will add additional frequencies on the Kolkata-Dibrugarh-Kolkata (2nd frequency), Guwahati-Dibrugarh-Guwahati (2nd frequency) and two additional frequencies on Bengaluru-Mangaluru-Bengaluru sector (total five flights now). It will also introduce new daily flights on the Bengaluru-Belagavi-Bengaluru route.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

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